Which landlord software or tools do you recommend?

Question

I am starting to get into landlording and just got my first duplex. I'm looking to get tools to stay as organized as possible so that I can scale the business up while managing it completely. Do any of the BP members have any software to recommend?

Taylor Roeling · Answer

Account Closed Congrats on starting with your first property! Software is definitely a must for self-managing and makes the landlording process much more efficient. Most softwares are free to landlords as well which is a bonus! On Bigger Pockets if you click tools, then under services click landlord resources, there are options for you to choose from: https://www.biggerpockets.com/tools/landlord-resources! Best of luck starting out.

Michael Seeker · Answer

Account Closed - there are dozens of online PM software options with varying costs and features.  We reviewed several of these about 6 months ago and our top picks were:

Tenant CloudGood format, mobile app seems to work OK, free or almost free for small number of units

Rentec DirectReasonably priced, functional, looks and feels like it was developed in 2000 but everything works

We tested out both of these and ended up opting for a custom solution.  If we did not have the drive/resources to do so, we would have gone with Tenant Cloud.

Ryan Schuler · Answer

@Michael Seeker have you used "Rently"? Looks like it allows you to Show your homes with a digital lockbox for entry into/out of the homes when your home is vacant. I guess the potential tenant has to fill out an application and then they are allowed into the property with a digital passcode. Seems like an interesting concept for placing tenants if you are not available 24/7 since they have a call center to manage calls on the rentals as well. I am not sure what the cost is for the call center portion but it is $30/box for 2 lock boxes minimum per month . I asked for a demo, but if you know anyone in memphis or elsewhere that has used it I would be interested to hear feedback.

Stephen Akindona · Answer

Account Closed I would recommend TrueRent.com. It is an internet based management system that allows you to collect rent online, manage maintenance request and so much more. Especially starting out you don't need those software systems with all the bells and whistles. I have found that just a simple way to collect rent and manage maintenance is really all that is needed. You of course get different performance reports and there is a free version and paid version that is really inexpensive!

Michael Seeker · Answer

@Ryan Schuler, I have not used Rently nor explored any self-showing solutions.  We had a property next to one of ours years ago that did self-showings through the PM company.  The prospective tenant had to leave their Driver's License with the PM co and were given a key to walk the property on their own.

My thoughts on it: while this is a way to streamline your showings it's also a great way to end up with higher vacancy rates.  It's also not at all feasible to do this with an occupied unit.  We list and show the majority of our apartments while the tenants who are moving out still reside in them.  Most of our leases on stabilized apartments start within 5 days of the previous lease ending.  Doing automated showings will guarantee some vacancy as you have to wait until the tenant moves out to even start showing/marketing.  You also are more likely to end up with a tenant who is ready to move in right away which tends to mean they are bad at planning and probably more likely to run into issues paying rent on time.

On top of all that, prospective tenants have a lot of questions and like to hear about what updates have been made to the property.  If there is nobody there to walk them through, then it's a very impersonal experience which could easily be the difference between a great prospect renting your listing vs. something else that may be an inferior property but leaves them with a better feeling.

Allan Smith · Answer

We use buildium and podio. 31 units and growing. Podio lets us send out pay or quit email and certified letter with one click, for example.

Oh and if you have cash paying tenants paynearme is awesome too.

Which landlord software or tools do you recommend?

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